Republic of Korea - Fresh Bread and Miscellaneous Bakery - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Fresh Bread and Miscellaneous Bakery in South Korea - 2022
Contents:
- Price for Fresh Bread and Miscellaneous Bakery in South Korea (FOB) - 2022
- Price for Fresh Bread and Miscellaneous Bakery in South Korea (CIF) - 2022
- Exports of Fresh Bread and Miscellaneous Bakery in South Korea
- Imports of Fresh Bread and Miscellaneous Bakery in South Korea
Price for Fresh Bread and Miscellaneous Bakery in South Korea (FOB) - 2022
In December 2022, the average export price for fresh bread and miscellaneous bakery amounted to $5,846 per ton, therefore, remained relatively stable against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2022 an increase of 3.1% m-o-m. Over the period under review, the average export prices hit record highs in December 2022.
Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($7,633 per ton), while the average price for exports to Germany ($2,677 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fresh Bread and Miscellaneous Bakery in South Korea (CIF) - 2022
The average import price for fresh bread and miscellaneous bakery stood at $4,717 per ton in December 2022, remaining stable against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in February 2022 when the average import price increased by 13% against the previous month. As a result, import price attained the peak level of $4,920 per ton. From March 2022 to December 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($11,595 per ton), while the price for Bulgaria ($1,668 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by France (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Fresh Bread and Miscellaneous Bakery in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of fresh bread and miscellaneous bakery, when their volume decreased by -5.4% to 58K tons. The total export volume increased at an average annual rate of +6.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 14%.
In value terms, fresh bread and miscellaneous bakery exports declined slightly to $330M in 2022. The total export value increased at an average annual rate of +11.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 22%.
| Export of Fresh Bread and Miscellaneous Bakery in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 68.4 | 89.2 | 101 | 93.3 | 10.9% |
| China | 24.1 | 31.0 | 48.6 | 38.7 | 17.1% |
| Japan | 13.0 | 17.2 | 22.2 | 29.9 | 32.0% |
| Taiwan (Chinese) | 16.1 | 24.1 | 23.8 | 20.5 | 8.4% |
| Hong Kong SAR | 14.6 | 22.0 | 21.2 | 20.0 | 11.1% |
| Australia | 14.3 | 16.0 | 16.3 | 15.7 | 3.2% |
| Vietnam | 11.0 | 12.4 | 13.2 | 13.9 | 8.1% |
| Canada | 8.5 | 10.9 | 11.3 | 11.6 | 10.9% |
| Philippines | 7.5 | 7.7 | 8.9 | 10.5 | 11.9% |
| Singapore | 3.9 | 5.1 | 7.4 | 7.2 | 22.7% |
| Russia | 6.2 | 5.4 | 6.5 | 6.5 | 1.6% |
| Netherlands | 2.0 | 2.3 | 3.0 | 3.2 | 17.0% |
| Germany | 2.3 | 2.3 | 3.6 | 2.7 | 5.5% |
| Others | 46.2 | 45.3 | 56.3 | 56.0 | 6.6% |
| Total | 238 | 291 | 344 | 330 | 11.5% |
Top Export Markets for Fresh Bread and Miscellaneous Bakery from South Korea in 2022:
- United States (14.9K tons)
- Japan (6.6K tons)
- China (6.3K tons)
- Taiwan (Chinese) (3.5K tons)
- Hong Kong SAR (3.3K tons)
- Australia (3.2K tons)
- Vietnam (2.3K tons)
- Canada (2.0K tons)
- Philippines (1.4K tons)
- Russia (1.4K tons)
- Singapore (1.1K tons)
- Germany (1.1K tons)
- Netherlands (1.0K tons)
Imports of Fresh Bread and Miscellaneous Bakery in South Korea
For the fourth consecutive year, South Korea recorded growth in overseas purchases of fresh bread and miscellaneous bakery, which increased by 7.9% to 68K tons in 2022. The total import volume increased at an average annual rate of +5.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, fresh bread and miscellaneous bakery imports expanded markedly to $309M in 2022. The total import value increased at an average annual rate of +8.6% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 12%. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Fresh Bread and Miscellaneous Bakery in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 41.0 | 40.8 | 46.1 | 63.7 | 15.8% |
| Malaysia | 48.5 | 54.8 | 50.0 | 57.4 | 5.8% |
| United States | 46.0 | 50.3 | 57.7 | 55.6 | 6.5% |
| Vietnam | 9.9 | 14.4 | 19.0 | 28.1 | 41.6% |
| Japan | 17.7 | 8.9 | 13.8 | 17.7 | 0.0% |
| France | 10.7 | 11.3 | 20.8 | 15.8 | 13.9% |
| Italy | 8.1 | 10.0 | 9.3 | 9.0 | 3.6% |
| Thailand | 3.0 | 2.7 | 5.2 | 6.9 | 32.0% |
| Indonesia | 5.0 | 5.0 | 5.5 | 6.2 | 7.4% |
| Spain | 4.3 | 4.7 | 5.1 | 5.6 | 9.2% |
| Taiwan (Chinese) | 10.7 | 10.0 | 6.6 | 4.9 | -22.9% |
| India | 1.5 | 1.8 | 2.0 | 2.8 | 23.1% |
| Philippines | 7.3 | 5.7 | 3.5 | 1.8 | -37.3% |
| Others | 26.8 | 27.5 | 33.8 | 33.3 | 7.5% |
| Total | 241 | 248 | 278 | 309 | 8.6% |
Top Suppliers of Fresh Bread and Miscellaneous Bakery to South Korea in 2022:
- China (19.3K tons)
- Malaysia (11.2K tons)
- United States (9.6K tons)
- Vietnam (8.2K tons)
- France (2.7K tons)
- Italy (1.7K tons)
- Indonesia (1.6K tons)
- Japan (1.4K tons)
- Spain (1.4K tons)
- India (1.3K tons)
- Thailand (1.0K tons)
- Taiwan (Chinese) (0.7K tons)
- Philippines (0.3K tons)
This report provides an in-depth analysis of the market for fresh bread and miscellaneous bakery in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10711100 - Fresh bread containing by weight in the dry matter state . 5 % of sugars and . 5 % of fat (excluding with added honey, e ggs, cheese or fruit)
- Prodcom 10711200 - Cake and pastry products, other bakers
- Prodcom 10721910 - Matzos
- Prodcom 10721920 - Communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products
- Prodcom 10721940 - Biscuits (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa, sweet biscuits, waffles and wafers)
- Prodcom 10721950 - Savoury or salted extruded or expanded products
- Prodcom 10721990 - Bakersu2019 wares, no added sweetening (including crepes, pancakes, quiche, pizza; excluding sandwiches, crispbread, waffles, wafers, rusks, toasted, savoury or salted extruded/expanded products)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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